What is the Best Way to Increase Sales for FMCG Brands? | A Study by Quantzig
A global analytics and advisory firm, Quantzig, that delivers sales analytics solutions to resolve complex business problems, announced the completion of their latest sales process template for a leading FMCG brand. The client is one of the world’s leading FMCG brands having various products under its portfolio. With the declining profit margins, the client was finding difficulties in converting potential sales leads to closed sales. They wanted to leverage Quantzig’s analytics solutions to identify an effective sales process and implement them across the organization. They were also interested in launching an advanced sales analytics-based initiative that is aimed at optimizing the local sales processes.
The U.S. economy is likely to grow at a moderate rate in the year 2019. This makes it vital for FMCG brands to develop newer and bolder strategies and execute traditional levers against a backdrop of a more stable US and worldwide economy. Companies in the consumer industry will strategically capitalize on the growth in emerging markets to enable access to new consumers and leverage market solutions. Therefore, it becomes a necessity for the brands to optimize their sales performance and develop an effective sales process template for achieving better sales.
What are the 7 steps to optimize the sales process?
- Prospecting – Analyzing potential customers and their needs with respect to your product/service and their buying capacity.
- Preparation – Researching the market and collecting all relevant information regarding the product/service and developing a sales presentation that caters to the needs of clients.
- Approach – Making first contact with the client through the medium that interests them the most.
- Presentation – Demonstrating how the product/service meets the needs of your potential customer.
- Handling objections – Understanding prospect’s concerns and addressing them.
- Closing – Getting the decision from the client to move forward.
- Follow-up – Keeping contact with customers and maintaining relationships.
“A seven-step sales process helps to customize business solutions, target potential customers, improve sales efficiencies and revenue margins for organizations,” says an expert from Quantzig.
Quantzig’s market experts analyzed the client’s marketing performance, trade promotions, pricing strategies, economic indicators, and other business conditions and offered actionable insights into the sales process. They were also able to optimize their sales performance and address the future needs of the organization. The analytics solutions offered by Quantzig enhanced their national portfolio and customer retention strategies down to the execution level and improved their marketing effectiveness by 60%. This also helped them in accurately identifying and predicting industry trends, sales trends, and growth potential.
Quantzig’s sales process template helped the client to:
- Improve marketing effectiveness by 60%.
- Identify FMCG industry and sales trends.
Quantzig’s sales process template offered predictive insights on:
- Estimating growth potential, optimizing sales and marketing activities.
- Increasing the alignment between the sales process and potential leads.